Hong Kong SAR, China: Plastic Supports Market 2024

Plastic Supports Market Size in Hong Kong SAR, China

In 2022, the Hong Kong plastic supports market was finally on the rise to reach $X after three years of decline. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Plastic Supports Production in Hong Kong SAR, China

In value terms, plastic supports production contracted to $X in 2022 estimated in export price. Over the period under review, production showed a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 46% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Plastic Supports Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of spools, cops, bobbins and similar supports of plastics decreased by -45.4% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports showed a deep downturn. The pace of growth appeared the most rapid in 2018 with an increase of 23% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic supports exports reduced notably to $X in 2022. Overall, exports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by 34%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons), China (X tons) and Indonesia (X tons) were the main destinations of plastic supports exports from Hong Kong SAR, with a combined 63% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +15.9%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Indonesia ($X) constituted the largest markets for plastic supports exported from Hong Kong SAR worldwide, together accounting for 63% of total exports.

In terms of the main countries of destination, Indonesia, with a CAGR of +17.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average plastic supports export price stood at $X per ton in 2022, remaining stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2021 an increase of 9.5%. As a result, the export price attained the peak level of $X per ton, and then declined slightly in the following year.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Vietnam ($X per ton) and Japan ($X per ton), while the average price for exports to South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+1.3%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Supports Imports

Imports into Hong Kong SAR, China

After two years of growth, supplies from abroad of spools, cops, bobbins and similar supports of plastics decreased by -59.2% to X tons in 2022. In general, imports showed a abrupt descent. The growth pace was the most rapid in 2016 when imports increased by 9.4%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, plastic supports imports contracted dramatically to $X in 2022. Overall, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2016 when imports increased by 9% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest plastic supports supplier to Hong Kong SAR, accounting for a 70% share of total imports. Moreover, plastic supports imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sevenfold. Singapore (X tons) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-16.8% per year) and Singapore (+7.3% per year).

In value terms, China ($X) constituted the largest supplier of spools, cops, bobbins and similar supports of plastics to Hong Kong SAR, comprising 70% of total imports. The second position in the ranking was held by Japan ($X), with a 10% share of total imports. It was followed by Singapore, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-15.7% per year) and Singapore (+8.7% per year).

Import Prices by Country

The average plastic supports import price stood at $X per ton in 2022, surging by 3.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2018 an increase of 8.9% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Taiwan (Chinese) ($X per ton) and Japan ($X per ton), while the price for Singapore ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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